EBRD and Sparkasse Bank in North Macedonia increase funding for energy-saving measures

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) and Sparkasse Bank in North Macedonia have teamed up to provide additional funds to homeowners for energy-saving measures. Under the Green Economy Financing Facility (GEFF) programme for the Western Balkans, the EBRD will lend €1.5 million to Sparkasse Bank to support investments in energy-efficient improvements. Homeowners can apply for loans for insulation, windows, heat pumps, solar panels, and other improvements to boost the energy efficiency of their homes and decrease their energy intensity. Successful borrowers will be eligible for a grant of up to 20% of the loan amount. The GEFF programme has reached over 3,500 households in North Macedonia, providing loans worth almost €27.5 million for individual projects via partner financial institutions. The EBRD has invested over €2.5 billion in North Macedonia to date.

(PRESS RELEASE) LONDON, 18-Apr-2023 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD), a multilateral developmental investment bank, and Sparkasse Bank in North Macedonia have announced their continued efforts to enhance energy efficiency across the nation by providing additional funds to homeowners for energy-saving measures.

As part of the third phase of the Green Economy Financing Facility (GEFF) programme for the Western Balkans, the EBRD will extend a €1.5 million loan to Sparkasse Bank for on-lending to clients interested in investing in energy-efficiency improvements. The GEFF programme, which supports energy-efficient solutions for a greener and more sustainable economy, has already assisted over 14,000 homeowners in obtaining over €75 million in loans.

Homeowners can apply for loans to make investments in insulation, windows, heat pumps, solar panels, and other improvements to boost the energy efficiency of their homes and decrease their energy intensity. Borrowers who successfully implement their projects will be eligible for a grant of up to 20% of the loan amount.

Andi Aranitasi, EBRD Head of North Macedonia, said: “We are pleased to expand our cooperation with Sparkasse Bank under the GEFF and to see a growing number of citizens recognising the importance and benefits of investing in energy efficiency. These investments allow them to improve the comfort of their homes and lower their electricity bills.”

Nina Nedanoska, Deputy President of the Management Board of Sparkasse Banka AD Skopje, said: “It is my great pleasure to continue Sparkasse Bank AD Skopje’s significant and successful cooperation with the EBRD’s Western Balkans GEFF programme in North Macedonia. With this credit line, we want to support citizens in equipping their households with advanced technologies, on which they will have multiple returns, including an attractive financial grant of 20 per cent of the investment amount and homes that are sustainable for the future.”

The Western Balkans GEFF programme is backed by the European Union, the Austrian Federal Ministry of Finance, and bilateral donors to the Western Balkans Investment Framework, with the Swiss government recently joining through the High-Impact Partnership on Climate Action and the Japanese government. The GEFF programme has already reached over 3,500 households in North Macedonia, providing loans worth almost €27.5 million for individual projects via partner financial institutions. These initiatives have resulted in more than 17,000 MWh of energy savings and almost 7,000 tonnes of CO2 emissions reduction per year.

The EBRD has been one of the primary institutional investors in North Macedonia, having invested over €2.5 billion in projects from a variety of sectors of the economy.

EBRD and Sparkasse Bank in North Macedonia increase funding for energy-saving measures

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